✅The Uses of $TANG

Tangent DAO

The Tangent DAO is a self-sovereign smart contract, backed by its own Cardano native governance token called TANG, which will act as the governor and guiding force of the Tangent network.

What is a DAO

A Decentralized Autonomous Organization (DAO) is a distributed sovereign system governed by code and the token holders only. At the heart of the DAO is a smart contract which codifies rules and guidelines for the self-governing organization.

How Does it Work?

The Tangent DAO will allow TANG holders to partake in the governance of the Tangent network by voting on proposals in a democratic fashion proportional to their holdings of TANG. Proposals can even modify or create completely new internal governance parameters, as well as invoke contract calls on any smart contracts for which the DAO is set as the governor. The DAO will use a snapshot system which can determine a user’s TANG balance at the precise moment a proposal goes live, and requires they lock the balance for a set period of time so that a vote for or against can be recorded.

TANG: The Governance Token

All members of Tangent are firm believers in the power of strong cryptography and privacy-enhancing technologies as a route to social and economic change within the financial industry. As advocates for permissionless financial services, we believe that Tangent should eventually become an independent platform owned and led by the community. To serve this aim, we have created the $TANG token whose primary use case will be as a governance token to actively guide Tangent towards self-sustainability and shared community ownership. The token will be minted on the Cardano blockchain and is a tradable asset which functions like most other native Cardano tokens, except it has additional utility as a voting mechanism. $TANG will give holders the ability to participate directly in governance by voting on proposals related to the $TANG token’s development and usage as well as development and direction of the Tangent platform itself. Any proposal that meets the proposal thresholds set by the governance protocol will be eligible to be voted on by the community.

Initially, governance parameters will be set by the Tangent Foundation but these will be adjustable with a simple proposal; though it’s worth collaborating off-chain via the official Discord channel to ensure there is enough community support before submitting a proposal to establish if it is to be well received. Tangent governance will be live from day one and $TANG holders will be able to vote to allocate $TANG towards artistic grants, strategic partnerships, governance initiatives, NFT bounties, additional NFT farming pools and other programs.